MSTR Stock Falls Over 5% In Tuesday Pre-Market: What’s Going On?

Strategy (NASDAQ:MSTR) declined 5.1% in the pre-market trading session on Tuesday after Bitcoin plummeted over 7% in the last 24 hours, according to data from Benzinga Pro.

What Happened: MSTR on Monday added nearly $2 billion worth of Bitcoin (CRYPTO: BTC) to its holdings, bringing its total close to 500,000 BTC.

Strategy, previously known as MicroStrategy, revealed in a regulatory filing that it has acquired an additional 20,356 Bitcoins at an average price of $97,514 per Bitcoin between Feb. 18 and Feb. 23, achieving a year-to-date BTC Yield of 6.9%.

The purchase was financed through a zero-coupon convertible note offering.

Strategy’s BTC Yield—a key metric tracking the percentage change in the ratio of bitcoin holdings to assumed diluted shares outstanding—rose to 6.9% between …

Full story available on Benzinga.com